"Adelphi Park - Marylander Condominium"

Leete A. Garten, Attorney
Fedder & Garten, P.A.
10096 Red Run Boulevard 21117

ESTATE AUCTION

“Marylander Condominium”

CONDOMINIUM UNIT
1 Bedroom ◆ 1 Bath
Dedicated Parking Space

Sale On Premises
7979 RIGGS ROAD
Unit # 11
Near University Boulevard
Prince George’s County, MD 20783

TUESDAY, MAY 21, 2019
AT 11:00 AM

– Suggested Starting Bid: $25,000 –

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
7979 Riggs Road is located in the Marylander Condominium complex in the Adelphi Park area of Prince George’s County. Adelphi Park is a Washington, DC suburb that sits within close proximity of The University of Maryland, College Park, Maryland’s flagship university. The condominium complex is located a mile away from New Hampshire Avenue, a major north/south route that leads to I-495 (2.5 miles) and I-95 (4.5 miles). The property is also located within one half mile of University Boulevard, an east/west route that features dining, retail and entertainment options. The Prince George’s Plaza Metro station is approximately 2.5 miles to the south, and the College Park Metro station is 3.5 miles to the east. Major employers in the area include The University of Maryland, College Park, the shops at Prince George’s Plaza Mall and The National Archives and Records Administration College Park.

For more information about the area, please visit:
https://www.princegeorgescountymd.gov/
https://www.pgcps.org/

CONDOMINIUM FEES:
Condominium fees are believed to be $398.53/month. Condominium Resale Package

IMPROVEMENTS:
One bedroom, one bathroom condominium unit in the Bedford Towne Condominium, more commonly known as Marylander Condominium. The home features a living room, dining room and an eat in kitchen. According to public tax records the unit was built in 1968 and contains 795 square feet of living area.

TITLE:
In fee simple; sold free and clear of liens.

TAXES:
Published annual real estate taxes are $705.87, based on a full value assessment of $60,000. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $3,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, condominium fees, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the Declaration and Bylaws of Bedford Towne Condominium. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of rescission under Maryland Condominium Law, having received and reviewed the Condominium Resale Package. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence.

No Buyer’s Premium

Auction by the Order of
The Estate of Michael W. Bradley